Feb 27, 2013

4 Things to Think About Your Business Today Many have tried to term the age we live in:- the knowledge economy, the digital economy, the experience economy, the Internet, the list goes on... but the one I use is the connected or network economy. There is a social change in the economy today and we can be fooled into thinking that the change is all about the Internet....however that is one piece of the jigsaw behind our thinking about economic development. For a business there are four ways to look at what is happening and to start a business around these factors or to evolve your customer management of your existing business. The four factors are interlinked but they do need you to see the subtle differences between them. Technological. The most obvious and therefore won't expand too much! But the technology is changing the way that people communicate, where they communicate, why the communicate and how they communicate. Think about technological change Social. As our living habits change, our needs as consumers change. We have developed over the century from a localised, family based community to a global, transient population. Our work may be at home, we may live "alone, yet in a highly populated city", we may struggle to balance family and work because of communting times or working hours. In general people have a social need that no longer gets filled by close by family or friends. We are not inherently more social, I would argue we are inherently in need of social because of the way we live our lives. Think about the social change Economical. In my Dad's day his marketplace was relatively local but now most businesses have global competitors. The global economy has changed our business model and made profit harder to find...but not impossible. We need to recognise that the global competition problem is offset by opportunities. Niche markets, online delivery, less fixed costs, greater word of mouth, more market testing etc etc. We must not focus on what is eroding our profit, but on what is creating opportunities for profit if we change our traditional mindset. Think about the economic model Networkable. The top down approach to selling, leadership is changing to what I term cyclone-ship. The power and strength of companies relies on your ability to connect, to network, to develop relationships....not just with consumers but employees, suppliers, talent, ideas, supply chain management. We need to evolve from hierarchical, chain like process to a networked eco-system.....Think about the structure and talent The key for business is to think about how technology can help you deliver and maximise the other three factors. How can we help fill the social need of modern consumers? How can we use technology to create value for the business? How can we develop skills that will enhance our network capability? Related articles Social Media has Changed How Your Customer Thinks Rethinking the Future of Business Social Media - Changing Business Thinking and Business Processes Technology, social change and the need of market research Social...

Anna Farmery

Social Marketing Architect, Speaker, Author and in spare time completing PhD on the future of the social business model

The Typepad Team

Become a Fan

Recent Comments